I’d imagine UDP would be adequate for it, as long as you can deal with the data dropping out. You could also use a layer like [url=http://enet.cubik.org/index.html:1temwnva]enet[/url:1temwnva] to compensate for UDP packet loss. Depending on your bitrate, you might not need to compress it anyway. I haven’t played around with FMod’s recording API, but I imagine you could just do some locking to read/write stream data as you get it and pass it over the network.

I don’t use ENet as I’ve coded my own network library that encompasses everything ENet offered but more. To top my network library off I want to add voice comms but not sure what methods were commonly used.
I was more worried about if FMOD would allow me to dynamically record/read the sample data whilst im sending to another client.